On March
24, 2016, a technical report prepared in compliance with NI 43-101
on standards of disclosure for mineral projects, was filed for the
Property. The report presented a mineral resource estimate of 18.4 M
Tonnes of 3.19% carbon flake graphite (“Cg”) in the Indicated category
and 16.7 M Tonnes at 3.75% Cg in the Inferred category using a cut-off
of 1.5%.

The mineral resource does not include high grade intercepts of 7.74%
Cg over 135.60 metres including 16.81% Cgr over 44.10
metres from hole LL-16-01, two different intersections in hole LL-16-02
reporting 17.08% Cg over 22.30 metres and 14.80% Cg
over 15.10 metres, and 110.80 metres of 14.56% Cg
in hole LL-16-03, nor the 28.5 metres of 16.53% Cg and 21.5 metres of
11.53% Cg reported on January 6, 2016 and 9,0% over 90.75 metres
reported on September 24th 2015 from the Refractory Zone.

The area of mineralization appears to be 200 metres wide, has a current
strike length of approximately 400 metres in the northwest to southeast
direction and is open in both directions.

The table below shows the drilling results from holes LL-16-001 to
LL-16-010. A drill hole location map can be found under the heading
Quicklinks: Drill
Map which includes 2015 and 2016 results and highlights.

* Length along the core. According to the Society, the true width of the
drillhole represents between 80 % and 95 % along the core.

“The current drilling program aims to expand the size of the Refractory
Zone to assist in the definition of a low footprint, open pit mining
scenario,” stated A. Paul Gill, CEO of Lomiko Metals Inc.

The Property consists of contiguous claim blocks totalling approximately
2,867 hectares (28,67 km2) situated approximately 53 km
east of Imerys’ Carbon and Graphite operation, formerly known as the
Timcal Graphite Mine, North America’s only operating graphite mine, and
located 117 km northwest of Montreal.

Jean-Sebastien Lavallée (OGQ #773), Geologist, is a shareholder of both
companies, VP Exploration of Quebec Precious Metals and a Qualified
Person under NI 43-101, has reviewed and approved the technical content
of this release.

For more information on Lomiko Metals, review the website at www.lomiko.com.

On Behalf of the Board,

“A. Paul Gill”Chief Executive OfficerWe seek safe
harbor. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release